14.03.2012                      20.Adar. 5772

Wirtschaft:

Oil, gas discovered off Tel Aviv coastline

Moddin Energy, Adira Energy announce oil discovery of up to 232.2 million barrels, drilling to begin at end of year.

Modiin Energy and Adira Energy Corporation announced Wednesday an oil and natural gas discovery at their offshore Gabriella and Yitzhak Licenses, which are 24 km northwest of Tel Aviv.
Modiin controlling shareholder Tzahi Sultan and IDB Holding Corp. Ltd. CEO Haim Gavrieli made the announcement at IDB's headquarters in Tel Aviv….